HENRY FORD HEALTH SYSTEM-MICHIGAN STATE UNIVERSITY HEALTH SCIENCES

EIN: 861607139 501(c)(3) Health Care

DETROIT, MI

Total Revenue
$156,993
Total Expenses
$4,269,081
Total Assets
$3,787,767
Net Assets
$1,817,308
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2021
Legal Domicile
MI
Principal Officer
STEVEN KALKANIS MD
Phone
3138768714
Tax Period
2023-01-01 to 2023-12-31

HENRY FORD HEALTH SYSTEM-MICHIGAN STATE UNIVERSITY HEALTH SCIENCES, founded in 2021, is a small nonprofit in the Health Care sector that reported $157K in total revenue in fiscal year 2023. Revenue surged 260% from the prior year, signaling strong growth momentum. Expenses of $4.3M exceeded revenue, resulting in a 2619% operating deficit.

Mission

THE GOAL OF HENRY FORD HEALTH - MICHIGAN STATE UNIVERSITY HEALTH SCIENCES (HSC) IS TO SERVE AS A CATALYST FOR CHANGE, REIMAGINING HOW WE THINK ABOUT, INNOVATE AND DELIVER SERVICES TO SUPPORT THE HEALTH AND WELFARE OF OUR COMMUNITIES. FUELED BY PASSION, CURIOSITY, AND A LITTLE BIT OF GRIT, THE HSC IS DEVELOPING SOLUTIONS, TREATMENTS, AND PROGRAMS TO MAKE LIFE COLLECTIVELY BETTER. STRATEGIES TOWARD ACHIEVING THIS GOAL INCLUDE A JOINT RESEARCH ENTERPRISE, A PREMIER CANCER CENTER, FOCUS ON THE MODEL OF MEDICAL AND HEALTH EDUCATION FOR THE FUTURE.

Program Service Accomplishments

Program 1
Expenses: $4,269,081 Revenue: $156,993

THE GOVERNING DOCUMENTS FOR HENRY FORD HEALTH - MICHIGAN STATE UNIVERSITY HEALTH SCIENCES (HSC) SET FORTH BOTH THE OVERALL TIMELINE AS WELL AS KEY MILESTONES REGARDING THE PRIMARY OBJECTIVES OF THE...

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THE GOVERNING DOCUMENTS FOR HENRY FORD HEALTH - MICHIGAN STATE UNIVERSITY HEALTH SCIENCES (HSC) SET FORTH BOTH THE OVERALL TIMELINE AS WELL AS KEY MILESTONES REGARDING THE PRIMARY OBJECTIVES OF THE HSC. DURING 2022, WHILE STILL AT THE FORMATIVE STAGE, THE HSC RECEIVED REGULATORY APPROVAL FOR THE PLAN FOR INTEGRATION OF THE TWO STAKEHOLDERS' FEDERAL RESEARCH PROGRAMS WHICH WILL PHASE IN BEGINNING IN 2023. PLANNING HAS COMMENCED FOR A NEW RESEARCH FACILITY TO BE INTEGRATED INTO THE HENRY FORD HEALTH PLANS FOR REDEVELOPMENT OF THE MIDTOWN DETROIT COMMUNITY. MOST LIKELY TIMING FOR GROUNDBREAKING WOULD BE IN 2024. THE MEDICAL RESIDENCY TRAINING PROGRAMS AT HENRY FORD HEALTH WERE ALIGNED WITH THOSE OF MICHIGAN STATE UNIVERSITY, PROVIDING MORE TRAINING OPPORTUNITIES. PRELIMINARY DISCUSSIONS AND PLANNING FOR ALIGNMENT OF THE CARE DELIVERY PROGRAMS AT THE TWO PARTNER ORGANIZATIONS WERE ALSO INITIATED. MORE INFORMATION ON THESE EXCITING ACHIEVEMENTS FOLLOWS.ADVANCING RESEARCH:FOR MORE THAN A CENTURY, HENRY FORD HAS EMBODIED CLINICAL RESEARCH EXPERTISE, INTRODUCING THE NEWEST THERAPIES FOR PATIENTS. MSU, AN ACADEMIC POWERHOUSE FOR MORE THAN 150 YEARS, HAS RENOWNED STRENGTH IN BASIC RESEARCH. TOGETHER, THIS PARTNERSHIP IS BRINGING MEDICAL DISCOVERIES FROM BENCH TO BEDSIDE.SINCE ACHIEVING RECOGNITION BY THE NATIONAL INSTITUTES OF HEALTH (NIH) AS A SINGLE, ALIGNED RESEARCH ORGANIZATION, THE PARTNERSHIP'S RESEARCHERS HAVE SUBMITTED MORE THAN 200 NIH GRANT PROPOSALS TOTALING NEARLY $500 MILLION IN FUNDING REQUESTS.OUR WORLD CLASS RESEARCH FACILITY IN DETROIT, SET TO OPEN IN 2027, WILL FURTHER FUSE BASIC AND TRANSLATIONAL RESEARCH, SERVING AS AN EPICENTER FOR INNOVATION AND DISCOVERY.COMBATTING CANCER:THE PARTNERSHIP IS BRINGING TOGETHER RESEARCH AND CLINICAL APPLICATIONS TO CREATE A NATIONAL AND INTERNATIONAL DESTINATION FOR ACCESS TO THE MOST ADVANCED CANCER THERAPIES AND RESEARCH. A KEY FOCUS IS CLOSING THE GAP IN HEALTH CARE OUTCOMES FOR INDIVIDUALS WITH CANCER BASED ON RACE, ETHNICITY, GENDER, AND SOCIOECONOMIC STATUS.PARTNERSHIP INVESTMENTS IN CANCER RESEARCH INCLUDE NEARLY $2 MILLION IN SEED FUNDING AND INTEGRATION GRANTS TO CULTIVATE COLLABORATION, WITH THE ULTIMATE AIM TO BLAZE A PATH TO INNOVATIVE CLINICAL TRIALS.EVOLVING EDUCATION:THIS PARTNERSHIP IS WORKING TOGETHER TO PREPARE THE NEXT GENERATION OF PHYSICIANS AND NURSES TO CARE FOR PATIENTS. THE PARTNERSHIP HAS INTRODUCED A NEW MSU COLLEGE OF HUMAN MEDICINE CAMPUS AT HENRY FORD HOSPITAL IN DETROIT, EXPANDED MSU COLLEGE OF NURSING PROGRAMS THROUGHOUT HENRY FORD HEALTH AND WORKED TO FURTHER STRENGTHEN OUR LONG-STANDING MSU COLLEGE OF OSTEOPATHIC MEDICINE PARTNERSHIP AT OUR HOSPITALS IN JACKSON, MACOMB AND WYANDOTTE.CREATING HEALTH EQUITY:DIVERSITY, EQUITY, INCLUSION AND JUSTICE (DEIJ) IS EMBEDDED IN ALL OUR PARTNERSHIP WORK. TOGETHER, OUR PARTNERSHIP IS ESTABLISHING INNOVATIVE APPROACHES TO END HEALTH DISPARITIES. ANOTHER KEY ELEMENT TO OUR DEIJ EFFORTS IS WORKFORCE DEVELOPMENT, WITH A COMMITMENT TO TRAINING DIVERSE FUTURE PHYSICIANS, NURSES AND OTHER HEALTH CARE PROVIDERS WHO CAN MEET MICHIGAN'S 21ST CENTURY HEALTH CARE NEEDS.STRENGTHENING DETROIT:A STRONG COMMITMENT TO THE CITY OF DETROIT IS AT THE HEART OF THIS PARTNERSHIP. AS LEADERS IN ADVANCED RESEARCH AND MEDICAL EDUCATION, COMPLEX CARE AND PRECISION HEALTH, POPULATION HEALTH MANAGEMENT AND VALUE-BASED CARE, HENRY FORD AND MSU BELIEVE THEY CAN MAKE A GREATER IMPACT AS CLOSELY ALIGNED PARTNERS THAN THEY COULD INDIVIDUALLY, ANTICIPATING OUR PARTNERSHIP WILL RESULT IN: JOB CREATION FOR DETROIT RESIDENTS INCREASED ACCESS TO HEALTH CARE OPTIONS IN THE CITY MEDICAL AND NURSING EDUCATION AND TRAINING OPPORTUNITIES FOR DETROIT RESIDENTS INCREASED DIVERSITY OF FUTURE HEALTHCARE PROVIDERS DETROIT AS THE DESTINATION FOR THE NATION'S BEST PRACTITIONERS, RESEARCHERS, AND STUDENTS ATTRACTING INDUSTRY PARTNERS AND START-UPS INTERESTED IN HEALTH INNOVATION

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Trantor Score

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $0
Investment Income $90,993
Other Revenue $66,000
TOTAL REVENUE $156,993

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $4,269,081
Other Expenses $4,269,081
TOTAL EXPENSES $4,269,081

Year-over-Year Comparison

2023 2022 Change
Revenue $156,993 $43,561 +2.6%
Expenses $4,269,081 $3,499,269 +0.2%
Net Income $-4,112,088 $-3,455,708 +0.2%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

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Liquidity & Cash Position

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Governance

Voting Members
10
Independent Members
10
Employees
N/A
Volunteers
N/A

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
5
$0
Total Directors
10
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ANDREA AMALFITANO DO DIRECTOR 1.00
Director
$0 $0 $0
NORMAN J BEAUCHAMP JR MD DIRECTOR- CHAIR 1.00
Officer Director
$0 $0 $0
NORMAN E HUBBARD MBA DIRECTOR 1.00
Director
$0 $0 $0
CHRISTINE C JOHNSON PHD MPH DIRECTOR 1.00
Director
$0 $0 $0
ADNAN R MUNKARAH MD DIRECTOR- VICE CHAIR 1.00
Officer Director
$0 $0 $0
ERIC J SCHER MD DIRECTOR 1.00
Director
$0 $0 $0
LEIGH SMALL PHD RN DIRECTOR 1.00
Director
$0 $0 $0
MARK A SMITH MD DIRECTOR 1.00
Director
$0 $0 $0
ARON SOUSA MD FACP DIRECTOR 1.00
Director
$0 $0 $0
ROBIN S DAMSCHRODER DIRECTOR 1.00
Director
$0 $0 $0
STEVEN N KALKANIS MD PRESIDENT 5.00
Officer
$0 $0 $0
MICHELLE JOHNSON TIDJANI ESQ SECRETARY (THROUGH 9/2023) 1.00
Officer
$0 $0 $0
KAREN CROSBY TREASURER 1.00
Officer
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $156,993 $4,269,081 $3,787,767 $-4,112,088
2022 $43,561 $3,499,269 $3,275,892 $-3,455,708
2021 No data $3,305,427 No data No data
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